Reliance Broadcast, US-based show tie up for content sharing

As a part of the arrangement with Lucha Libre, RBNL's English entertainment channel BIG CBS Prime and regional channel Big Magic will air the first season of the 'Masked Warriors'

Reliance Broadcast Network (RBNL) has tied up with the US-based wrestling show producer Lucha Libre for content sharing and is eyeing more partners for such tie-ups for its TV channels in India.

"We are in continuous talks with several overseas partners to explore business possibilities to better the product. We are always exploring the possibilities of showcasing internationally acclaimed content, which works with audiences here," RBNL CEO Tarun Katial told PTI.

As a part of the arrangement with Lucha Libre, RBNL's English entertainment channel BIG CBS Prime and regional channel Big Magic will air the first season of the 'Masked Warriors'—a freestyle wrestling show.

Lucha Libre USA CEO Steven Ship said: "We are confident, the reach and rich relevant audience base of BIG CBS Prime and Big Magic will allow us to create sizeable impact in the Indian market".

When asked about the financial arrangement between the two parties Katial said: "There is a nominal fee involved. Lucha Libre considers India to be a strategic market and this business alliance makes sense for both parties."

On the content side, RBNL already has access to the library of CBS Studios International.

"We will soon launch our channel through our JV with RTL–which will allow us access to some of the best content from their stable, including their production wing, FreeMantle," he added. Besides sourcing international feed, RBNL is also equally focusing on domestic content.

On Tuesday, RBNL ended at Rs56 per share on the Bombay Stock Exchange, 1.06% down from the previous close.

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Monnet Ispat net profit rises 17% to 77 crore

Monnet is putting up a 1.5 million tonnes per annum steel plant at Raigarh in Chhattisgarh

Buoyed by increased production of both sponge iron and power, Monnet Ispat and Energy reported a net profit of Rs76.94 crore for quarter ended September 2011, compared to net profit of Rs65.60 crore for the same period last year.
The total income of the company stood at Rs458.55 crore compared to Rs360.65 crore in the corresponding quarter a year ago. "The company has reported a strong growth in production volumes of sponge iron and power. The realisations of sponge iron have also increased during the quarter," Monnet said.

However, due to rise in raw material costs and drop in the realisation in power tariff, the margins remained under pressure during the quarter, it added.
Monnet’s expenditure on raw material grew to Rs279 crore during the quarter over Rs213 crore in the same period last year.

"The overall industry and business environment is challenging, however, we are focusing on better productivity and rationalisation of costs as key inputs for managing our profitability," said the company's executive vice chairman and managing director Sandeep Jajodia.

Monnet is putting up a 1.5 million tonnes per annum steel plant at Raigarh in Chhattisgarh. The company hopes that sponge iron price would stabilise now and expects an improvement in power tariff, which is already showing signs.
"The price of coal and its availability would remain an area of concern for the industry," the company statement further said.

On Tuesday, Monnet ended at Rs373.95 per share on the Bombay Stock Exchange, 0.05% down from the previous close.

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Bajaj Allianz ties with Bengal gramin bank

Bajaj Allianz will be able to reach out to some two lakh existing customers and large number of new borrowers of the bank

Paschim Banga Gramin Bank has entered into a tie-up with Bajaj Allianz Life Insurance Company for distribution of their group life insurance products for loan borrowers and account holders of the bank.

A company statement said the bank would offer a range of group life insurance products that cover the borrowers with loan repayment protection in case of death of the borrower within the tenure of the loan.

Bajaj Allianz will be able to reach out to some two lakh existing customers and large number of new borrowers of the bank, the statement said. Paschim Banga Gramin Bank, a regional rural bank, caters to Howrah, Hooghly, Burdwan and Birbhum

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